Canadian Paper Money

Although various treasury bills and privately-issued banknotes circulated in
Canada, officially-issued Canadian paper money did not begin until the rise of the
Canadian Dominion in 1867. The Dominion issued $1, $2, $4, $50, $100, $500,
and $1,000 notes in a period between 1870 to 1882. This paper money was printed
until 1934 when the printing of paper money was transferred to the Bank of
Canada.

The Bank of Canada replaced Dominion denominations with $1, $2, $5, $10,
$20, $25, $50, $100, $500, and $1,000 bills. The $25 and $500 bills were dropped
almost immediately and the $1,000 note was removed in 2000. The $1 and $2 bills
have been replaced by coins. The $5, $10, $20, $50, and $100 bills are still
produced today.

Although various treasury bills and privately-issued banknotes circulated in
Canada, officially-issued Canadian paper money did not begin until the rise of the
Canadian Dominion in 1867. The Dominion issued $1, $2, $4, $50, $100, $500,
and $1,000 notes in a period between 1870 to 1882. This paper money was printed
until 1934 when the printing of paper money was transferred to the Bank of
Canada.

The Bank of Canada replaced Dominion denominations with $1, $2, $5, $10,
$20, $25, $50, $100, $500, and $1,000 bills. The $25 and $500 bills were dropped
almost immediately and the $1,000 note was removed in 2000. The $1 and $2 bills
have been replaced by coins. The $5, $10, $20, $50, and $100 bills are still
produced today.

Beginning in 2011, the Bank of Canada began transitioning remaining
denominations into polymer materials. This polymer series features bright colors
on each denomination. The Bank of Canada also issues commemorative notes,
such as the Queen Elizabeth II $20 printed in 2015.

Quick Facts

In the late 17th and early 18th centuries, Canada's currency shortage
was so severe that colonists resorted to using specially-marked playing cards as
currency

A three-of-a-kind $500 bill from 1911 sold for $322,000 at auction in 2008.
The note featured Queen Mary, which was an unusual breach of tradition given
that Canadian currency typically features the reigning monarch

Private banks, such as Molsons Bank of Montreal, sometimes issued strange
denominations such as $6 or $7 bills in the late 19th century. This allowed them to
ignore the official Canadian $1 and $2 notes